Xerox Holdings Corporation (NASDAQ:XRX) announced the appointment of William "Liam" Twomey as its new Vice President and Chief Accounting Officer, effective February 1, 2025. The news follows his commencement of employment with the company on Monday.
Twomey brings extensive experience from Paramount (NASDAQ:PARA), where he served in multiple senior roles, most recently as Senior Vice President, Global Accounting Operations. His career also includes positions at Trusted Media Brands, Inc., Focus Financial Partners (NASDAQ:FOCS), LLC, and PricewaterhouseCoopers, LLP. Twomey is a Certified Public Accountant in New York and holds a Bachelor of Science in Business Administration from Molloy College.
Under the terms of his employment, Twomey will receive an annual base salary of $400,000 and be eligible for an annual bonus targeted at 60% of his base salary. He will also be granted a long-term incentive award with a target value of $400,000 for the 2025 cycle, with eligibility for future awards subject to board approval. Additionally, Twomey will receive a $50,000 signing bonus, with a clawback provision if he voluntarily leaves or is terminated for cause within the first year.
Twomey's appointment comes with eligibility for severance benefits under certain conditions, as outlined in a change in control severance agreement and Xerox's Officer Severance Program. He will also participate in Xerox's benefit plans and executive benefit programs.
The information for this article was obtained from a recent 8-K filing with the Securities and Exchange Commission.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.